Question 1

Briefly summarize the two views of the value delivery process that may be followed by organizations.

Accepted Answer

The traditional view of marketing is tha

Question 2

MasterCard and Visa may team up with university alumni associations to offer affinity credit cards that typically display an iconic image associated with the university on the card itself and may include an incremental donation program associated with purchases made using the card. The best description of this form of alliance would be a ________.

Accepted Answer

A)  product alliance 
B)  logistics alliance 
C)  pricing collaboration 
D)  network alliance 
E)  promotional alliance 
A)  product alliance 
B)  logistics alliance 
C)  pricing collaboration 
D)  network alliance 
E)  promotional alliance

Question 3

When one company licenses another to produce its offerings, or two companies jointly market their complementary offerings, it is called a ________.

Accepted Answer

A)  pricing collaboration 
B)  product or service alliance 
C)  promotional alliance 
D)  logistics collaboration 
E)  total quality management 
A)  pricing collaboration 
B)  product or service alliance 
C)  promotional alliance 
D)  logistics collaboration 
E)  total quality management

Question 4

What questions would typically be asked during a market opportunity analysis (MOA)?

Accepted Answer

Questions would typically be:
• Can the

Question 5

The marketing plan, the central instrument for directing and coordinating the marketing effort of a company, operates at the ________ levels.

Accepted Answer

A)  functional and operational 
B)  strategic and tactical 
C)  corporate and operational 
D)  customer and expenditure 
E)  corporate and division 
A)  functional and operational 
B)  strategic and tactical 
C)  corporate and operational 
D)  customer and expenditure 
E)  corporate and division

Question 6

When a firm aims to underprice competitors and win market share, it is using a(n) ________ strategy that requires relatively less marketing skills as compared to other strategies.

Accepted Answer

A)  product differentiation 
B)  overall cost leadership 
C)  focus 
D)  domestic customer relationship 
E)  price skimming 
A)  product differentiation 
B)  overall cost leadership 
C)  focus 
D)  domestic customer relationship 
E)  price skimming

Question 7

A principle of the value chain is that every firm is a synthesis of activities performed to design, produce, market, deliver, and support its product.

Accepted Answer

A) True 
 B)False

Question 8

For an MBO (management by objectives) system to work, one of the four criteria that the unit's objectives must meet is that objectives must be stated quantitatively whenever possible.

Accepted Answer

A) True 
 B)False

Question 9

What is the second phase of the value creation and delivery sequence?

Accepted Answer

A)  choosing the value 
B)  providing the value 
C)  communicating the value 
D)  calculating the value 
E)  calibrating the value 
A)  choosing the value 
B)  providing the value 
C)  communicating the value 
D)  calculating the value 
E)  calibrating the value

Question 10

A company that seeks to increase its sales and profits through backward, forward, or horizontal integration within the industry is said to be employing a(n) ________ growth strategy.

Accepted Answer

A)  diversification 
B)  intensive 
C)  target 
D)  integrative 
E)  conglomerate 
A)  diversification 
B)  intensive 
C)  target 
D)  integrative 
E)  conglomerate

Question 11

Mission statements are at their best when they reflect a ________.

Accepted Answer

A)  market 
B)  strength 
C)  competency 
D)  vision 
E)  value 
A)  market 
B)  strength 
C)  competency 
D)  vision 
E)  value

Question 12

A marketing plan is evaluated on the basis of how simple, specific, realistic, and complete it is.

Accepted Answer

A) True 
 B)False

Question 13

"Enriching Women's Lives" is a three-word mantra that is used by Mary Kay. This is an example of which of the following characteristics of good mission statements?

Accepted Answer

A)  It is focused on a limited number of goals. 
B)  It is short, memorable, and meaningful. 
C)  It defines the major competitive spheres in which the company will operate. 
D)  It takes a long-term view. 
E)  It stresses the company's major policies and values. 
A)  It is focused on a limited number of goals. 
B)  It is short, memorable, and meaningful. 
C)  It defines the major competitive spheres in which the company will operate. 
D)  It takes a long-term view. 
E)  It stresses the company's major policies and values.

Question 14

If a company sought to grow by starting new businesses that have no relation to its current technology, products, or markets, the company would be using a market penetration strategy.

Accepted Answer

A) True 
 B)False

Question 15

Most large companies consist of four organizational levels: the corporate level, the ________ level, the business unit level, and the product level.

Accepted Answer

A)  board of director 
B)  major stakeholder 
C)  management team 
D)  division 
E)  strategic 
A)  board of director 
B)  major stakeholder 
C)  management team 
D)  division 
E)  strategic

Question 16

Angelo made the decision to outsource the software components of his consulting company so he could focus on the company's ________, which are sources of competitive advantage, make a contribution to perceived customer benefits, have application in a wide variety of markets, and are difficult to imitate.

Accepted Answer

A)  core competencies 
B)  infrastructure 
C)  market-sensing processes 
D)  fulfillment management processes 
E)  outbound logistics 
A)  core competencies 
B)  infrastructure 
C)  market-sensing processes 
D)  fulfillment management processes 
E)  outbound logistics

Question 17

Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.

Accepted Answer

A)  concentric growth 
B)  conglomerate 
C)  horizontal 
D)  intensive growth 
E)  integrative growth 
A)  concentric growth 
B)  conglomerate 
C)  horizontal 
D)  intensive growth 
E)  integrative growth

Question 18

Juan Garcia plans the daily promotional releases about his company's products and services. He can be described as a(n) ________ planner.

Accepted Answer

A)  strategic 
B)  selective 
C)  tactical 
D)  niche 
E)  operational 
A)  strategic 
B)  selective 
C)  tactical 
D)  niche 
E)  operational

Question 19

Which of the following is an example of growth by diversification?

Accepted Answer

A)  a company introducing its existing products in a new market 
B)  a company introducing new product category in a new market 
C)  a company increases its product line in an existing market 
D)  a company introducing a new product category in an existing market 
E)  a company integrates backward to cut costs 
A)  a company introducing its existing products in a new market 
B)  a company introducing new product category in a new market 
C)  a company increases its product line in an existing market 
D)  a company introducing a new product category in an existing market 
E)  a company integrates backward to cut costs

Question 20

Amber oversees the activities at a consumer packaged goods firm that include researching, developing, and launching new, high-quality shampoos, quickly and within budget. With which process is her job most closely aligned?

Accepted Answer

A)  the fulfillment management process 
B)  the market-sensing process 
C)  the customer acquisition process 
D)  the customer relationship management process 
E)  the new-offering realization process 
A)  the fulfillment management process 
B)  the market-sensing process 
C)  the customer acquisition process 
D)  the customer relationship management process 
E)  the new-offering realization process

Exam 2: Developing Marketing Strategies and Plans

Briefly summarize the two views of the value delivery process that may be followed by organizations.

When one company licenses another to produce its offerings, or two companies jointly market their complementary offerings, it is called a ________.

What questions would typically be asked during a market opportunity analysis (MOA)?

The marketing plan, the central instrument for directing and coordinating the marketing effort of a company, operates at the ________ levels.

When a firm aims to underprice competitors and win market share, it is using a(n) ________ strategy that requires relatively less marketing skills as compared to other strategies.

A principle of the value chain is that every firm is a synthesis of activities performed to design, produce, market, deliver, and support its product.

For an MBO (management by objectives) system to work, one of the four criteria that the unit's objectives must meet is that objectives must be stated quantitatively whenever possible.

What is the second phase of the value creation and delivery sequence?

A company that seeks to increase its sales and profits through backward, forward, or horizontal integration within the industry is said to be employing a(n) ________ growth strategy.

Mission statements are at their best when they reflect a ________.

A marketing plan is evaluated on the basis of how simple, specific, realistic, and complete it is.

"Enriching Women's Lives" is a three-word mantra that is used by Mary Kay. This is an example of which of the following characteristics of good mission statements?

If a company sought to grow by starting new businesses that have no relation to its current technology, products, or markets, the company would be using a market penetration strategy.

Most large companies consist of four organizational levels: the corporate level, the ________ level, the business unit level, and the product level.

Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.

Juan Garcia plans the daily promotional releases about his company's products and services. He can be described as a(n) ________ planner.

Which of the following is an example of growth by diversification?

Amber oversees the activities at a consumer packaged goods firm that include researching, developing, and launching new, high-quality shampoos, quickly and within budget. With which process is her job most closely aligned?

Defining Marketing for the New Realities

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

Filters